Trump Seeks New $15 Billion Subsidy to Protect Farmers from His Own Trade War

Will China trade war fallout become the quagmire that defines Trump's presidency?

He’s even talking about farmers as soldiers now who are willing to sacrifice because they’re “patriots”

Editor’s note: Trump is discovering that economic interventionism at home is every bit of a slippery slope to a quagmire that military interventionism is abroad. Every instance of interference causes fallout which then demands even more intervention to set it “right”. Meanwhile economic freedom which is the true cause of growth is set back at each step.

The president appeared to dismiss the impact of the cost as he falsely claimed — again — that “massive” tariff payments are being paid by China “directly” to the U.S. Treasury, which would presumably be used to cover the cost of the subsidy. There is “absolutely no need to rush” to negotiate a deal with China, he tweeted.

In fact, the tariffs are paid by U.S. importers, who pass on the extra costs to the American consumer in the form of higher prices for products, a fact White House economic adviser Larry Kudlow admitted Sunday. Economists have estimated that the trade war is costing the U.S. more than $3 billion a month.

Talks with China continue in a very congenial manner – there is absolutely no need to rush – as Tariffs are NOW being paid to the United States by China of 25% on 250 Billion Dollars worth of goods & products. These massive payments go directly to the Treasury of the U.S….